50Animals kept for trade purposesU.K.
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(1)Animals or other living creatures kept for the purposes of a trade are treated as trading stock if they are not kept wholly or mainly—
(a)for the work they do in connection with the carrying on of the trade,
(b)for public exhibition, or
(c)for racing or other competitive purposes.
(2)But they are not treated as trading stock if they are part of a herd in relation to which a herd basis election has effect (see Chapter 8).
(3)This section applies to shares in animals or other living creatures as it applies to the creatures themselves.